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Osborne has lost control of the public finances


Published Apr 17, 2015

PatrickOflynn.jpgUKIP economic spokesman Patrick O'Flynn has accused the Government of losing control of the public finances after new official figures showed that the UK deficit went up again during 2014, topping £100bn and that the Government's debt now tops £1,600bn.

The figures from the ONS, revealed that the deficit for the calendar year 2014 came in at £101.8bn, some £3.5bn higher than in 2013.

Mr O'Flynn said: "George Osborne is acting as if he has turned the public finances around. There is just one problem with that - it isn't true. In fact there has been very little progress on deficit reduction and the national debt is soaring to levels that leave this country very vulnerable in the long-term to further external shocks or the usual strains of the economic cycle.

"So it beggars belief to see Mr Osborne scattering around unfunded pledges on extra spending and tax cuts in a desperate bid to con the voters into giving him another go. I said early in the week that it is as if he has got the guys from Syriza in to do his public finances planning. I meant it as a joke, but with every passing day it becomes clearer that the Chancellor has mislaid his fiscal compass.

"This is yet another reason for making sure that a good number of UKIP MPs are elected on May 7 in order to make sure that whoever is in the Treasury sticks to the deficit elimination schedule and understands the perils of making unfunded pledges in a bid to chase short-term advantage."

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